Bill > HB05541

This bill proposes to amend chapter 229 of the general statutes to establish a new tax on capital gains, specifically targeting individuals who realize a net gain of over five million dollars from selling or exchanging capital assets. In financial terms, a capital gain is the profit earned from selling an investment or asset (such as stocks, bonds, real estate, or other property) for more than its original purchase price. The proposed tax would only apply to the portion of the gain that exceeds five million dollars, meaning that the first five million dollars of profit would be exempt from this new tax. By setting this high threshold, the legislation appears designed to impact only high-value transactions and potentially wealthy investors, with the likely intent of generating additional revenue for the state without imposing additional tax burden on smaller investors or more modest asset sales.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05541&which_year=2025